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Google is apparently in talks to buy up part of Virgin Galactic if sources are to be believed.
Sources claim that negotiations between the two parties have been taking place for months and are now reaching an advanced stage. It’s claimed that the deal is in two parts: first, a $30 million stake in the Virgin Galactic holding company; second, an injection of hundreds of millions of dollars into a joint venture, with Virgin Galactic injecting its expertise to help Google with its own projects.
Sources also said that the search giant is looking to Virgin Galactic for help with getting its new fleet of low-Earth orbit satellites into space. It recently purchased Skybox Imaging for a cool $500 million in cash in an attempt to make Google Earth a whole lot crisper-and help fulfill Google’s vision of worldwide satellite-based internet access.
The deal, if inked would not only buy Google some expertise to make the best use of its new toys but would also help Virgin Galactic to earn a little more credibility which had been lacking in recent time.